IN THE STATE COMMISSION: DELHI

(Constituted under section 9 of the Consumer Protection Act, 1986)

Date of Hearing:10.07.2019

                                                                   Date of decision:22.07.2019

First Appeal No. 721/2012

IN THE MATTER OF

Bright Electricals,

Office at 1801/6, Bhagirath Palace,

Chandni Chowk, Delhi-110006

Through LR’s of Proprietor Late Sh. Ramnath Anand

1. Smt. Kamal Kanta

W/o Late Sh. Ramnath Anand,

R/o 4B/32 Old Rajinder Nagar,

New Delhi-110060

2. Mr. Kartik Anand

S/o Late Sh. Ramnath Anand,

R/o 4B/32 Old Rajinder Nagar,

New Delhi-110060

3. Mrs. Shallu Suri

W/o Sh. Arun Suri,

R/o 255, Sainik Vihar, Pitampura,

New Delhi

4. Mrs. Aarti Sahni

W/o Sh. Surinder Sahni,

R/o C-14, 1^st Floor, Palam Vihar,

Gurgaon, Haryana

5. Mrs. Jyoti Puri

W/o Sh. Salil Puri,

R/o E-60, Back side,

New Moti Nagar, New Delhi....Appellants

VERSUS

ICICI Bank Ltd.

Chandni Chowk Branch,

Delhi-110006                                                                        ....Respondent

HON’BLE  SH. ANIL SRIVASTAVA, MEMBER                            

                                 

 1.   Whether reporters of local newspaper be allowed to see the judgment?            Yes     

 2.   To be referred to the reporter or not?                                                                   Yes

Present:       Sh. Achin Mittal, Counsel for the appellant

                   Ms. Sonakshi Gupta, Counsel for the respondents

ANIL SRIVASTAVA, MEMBER

JUDGEMENT

1.           The complaint bearing number 464/2010 filed by M/s Bright Electricals a partnership firm under Section 12 of the Consumer Protection Act 1986, the Act, against the ICICI Bank Ltd. for the non-release of the interest due to them, having been dismissed by the District Consumer Disputes Redressal Forum, (North) vide their order dated 20.07.2012 with the observation that the complainant is not entitled for the relief since it is a commercial entity, operating current account with ICICI Bank for commercial purpose and not for any private purpose of an individual, and thus not a consumer within the meaning of Section 2(1)(d) of the Act, the complainant before the District Forum has preferred an appeal before this Commission, under Section 15 of the Consumer Protection Act 1986, assailing the said order, for short appellant, against ICICI Bank, hereinafter referred to as respondents, alleging that the order so passed is without appreciating the facts in proper perspective and praying for setting aside the said order and for a direction to the respondents to pay the interest of Rs. 10,81,312/- w.e.f. 23.02.2004 to 09.02.2009 and compensation of Rs. 4,00,000/- for harassment and mental agony with interest @ 12% p.a. from the date of filling the complaint till the amount the is paid to the appellant.
2.           Facts of the case necessary for the disposal of the appeal are these.
3.           The appellant was maintaining its current account no. 15379 with the predecessor bank of the respondent, namely, Bank of Madurai Ltd. since 1994. However in the year 1999, the funds available in the said current account were converted and kept with the respondent in the shape of cumulative deposits for the period from 23.02.1999 to 23.02.2001. After the maturity, the FDR’s were renewed by respondent. It is pertinent to say that the renewal was done without remitting the maturity amount in the current account for a further period of 3 years, w.e.f. 23.02.2001 to 23.02.2004. It was therefore incumbent on the respondent to continue the FDR’s along with interest till instructions to the contrary.  The complainant visited the office of respondent bank and requested the renewal of the four FDs vide no. 6292-15-28540, 6292-15-28541, 6292-15-28542, 6292-15-28546 and as a consequence thereof the respondent bank renewed the four FDs w.e.f. 23.02.2004.
4.           The appellant reported to the respondent on 26.02.2008 that four FDR’s No. 6292-15-28540, 6292-15-28541, 6292-15-28542, 6292-15-285

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